In most developed countries, people take their accounts for granted. Their money is kept safe, there is always an ATM nearby and digital payments make life so much easier. However, financial inclusion remains out of reach for an estimated 1.7 billion adults worldwide. This is the number of people without a bank account in 2017, like the World Bank communicated.

As surprising as this colossal figure is, things are improving: 1.2 billion people have gained access to a bank account since 2011 – over 500 million in the last three years alone. Banking has obvious benefits, such as not having to hide your money at home. It also connects people to the global financial system and allows them to grow their wealth.

Considering how many people are still unbanked, where do they all live? World Bank data shows that the situation is worst in developing countries, particularly in Africa and Asia. Despite China's economy making huge strides, there are still 224 million inhabitants there without a bank account. In India the figure stands at 191 million and in neighbouring Pakistan at just under 100 million. These countries will strive to provide more and more people with access to banking services in the near future.

In addition to the advantages listed above, banking is also crucial for the economy as it stimulates investment and makes it easier for account holders to open or expand a business.